Shearer Property secures planning approval for £93.8m redevelopment in UK

WCN Editorial Team 22 Nov 2018 EUROPE BUILDINGS

Shearer Property Group and a fund advised by JP Morgan Asset Management have secured approval from the Coventry City Council’s planning committee for a £11.8m scheme to improve the Upper Precinct and the £82m Coventry Station Masterplan.

Both schemes have received £30m funding from the government’s Local Growth Fund through the Coventry and Warwickshire Local Enterprise Partnership (CWLEP).

A central pedestrian area in a framed courtyard style design with planting, landscaping, water features, seating areas and timber terraces will be created in the Upper Precinct.

The escalator and footbridges connected to West Orchards Shopping Centre will be demolished to re-establish the view to Coventry Cathedral. The canopy outside the former BHS building and the ramp near Ernest Jones will be removed.

A 75-room student accommodation facility will be created in the Upper Precinct.

Work to prepare the area ready for the major work after Christmas has already commenced.

From 17 December 2018, vehicle or pedestrian access will not be allowed through Barracks Way, the walkway from the car-park alongside Clintons Cards.

However, shops will be open as usual and alternative arrangements will be made for people to access the shops from Barracks Way.

The Shearer Property Group, JP Morgan Asset Management, Coventry City Council and several grant funders, including £7.75m from the Local Growth Fund, will part-fund the £11.8m Upper Precinct project.

Coventry City Council has also approved plans for a two-phase development of Coventry Station, which was opened in 1962, to create a new gateway to the city ahead of 2021when the city will be the UK City of Culture.

The first phase to construct a new footbridge and canopies and an access tunnel under Warwick Road has already begun as part of the £82m scheme, which is being funded by the West Midlands Combined Authority, the CWLEP, the Department for Transport and other borrowings.

Under the second phase, a multi-storey car park for 633 vehicles, a new station concourse with access to all platforms and Warwick Road, and a new pedestrian route via an access tunnel under Warwick Road to a new bus interchange will be constructed.

Coventry City Council is working with Network Rail, Virgin Trains and other rail operators, Transport for West Midlands, Friargate Coventry and other stakeholders to deliver the scheme.

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Image: Rendering of Upper Precinct and the Coventry Station. Photo: Courtesy of Coventry City Council.

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